Current mortgage deals
There are dozens of mortgage lenders offering thousands of mortgage deals in the UK market. Any individual applicant may find they have access to hundreds of deals on any particular query.
If you are seeking the right mortgage deal for you therefore, it is important that you understand some key issues about current mortgage deals.
Current mortgage deals – re-mortgages
Most borrowers with a current mortgage will re-mortgage at some stage to increase lending, reduce costs, or both.
If you have a current mortgage, your lender will often be able to offer you a new mortgage deal going forward, but this will not necessarily be the best rate available. Other mortgage lenders are keen to attract new borrowers, and therefore currently offer re-mortgage deals priced competitively with perhaps a free valuation offer, and legal costs on the re-mortgage covered by the new lender.
A new deal on your remortgage is likely to take 3 to 4 weeks to process.
Call us now on 020 8979 9684 if you need a re-mortgage deal.
Current mortgage deals – first time buyer mortgages
If you are a first-time buyer looking for a mortgage deal, you are most likely seeking the lower deposit higher loan to value product. As a first-time buyer in the current market, you may also be looking at mortgage deals for affordable housing such as help to buy schemes or perhaps considering a guarantor supported mortgage.
Whatever your current mortgage need, as a first-time buyer we can assist.
Call us now on 020 8979 9684 if you need a first-time buyer mortgage deal.
Current mortgage deals – bad credit mortgages
If you have a bad credit history, your choice of current mortgage deals may be severely limited.
Issues such as late payments, defaults, County Court judgements, IVAs and bankruptcies can all impact on your choice of mortgage deal.
The more mild your bad credit history, and the more historical that bad credit history, the more options there will be available to you. For a mortgage deal with a bad credit history, you will typically need a minimum 15% deposit.
As a rule of thumb, credit history problems that occurred over 24 months ago can often be managed, more recent ones are particularly tricky to deal with.
If you do need a bad credit mortgage deal, you need an experienced independent broker to help, and we can assist.
Call us now on 020 8979 9684 if you need a bad credit mortgage deal.
Current mortgage deals – self-employed mortgages
If you are self-employed, it can be tricky to arrange a mortgage deal in the current market as lenders all differ in how they underwrite self-employed applicants. This is particularly the case for limited company directors. Therefore, it is important, when you need a self-employed mortgage deal, to deal with an independent mortgage broker who understands the market and how the self-employed can be assisted.
Call us now on 020 8979 9684 if you need a self-employed mortgage deal.
Current mortgage deals – buy to let mortgages
There are numerous buy to let mortgage deals in the current market, and the sensible investor is wise to consider all available deals when purchasing a new property or refinancing an existing one.
Mortgage deals in the buy to let market are generally underwritten based on the rental income of the target property, although most buy to let lenders will require that the applicant has a minimum personal income of £25,000.
Properties with multiple tenants, on those let to students or those on benefit income need careful consideration.
Call us now on 020 8979 9684 if you need a buy to let mortgage deal.